Order in respect of Shri Vipin Sharma in the matter of GDR issue of Chromatic India Ltd

Author
View profile
Last updated: 30 September 2020
Quick Summary
The Securities and Exchange Board of India (SEBI) investigated Chromatic India Ltd's Global Depository Receipts (GDR) issuance. The investigation revealed that EURAM Bank provided a loan to Vintage FZE to subscribe to Chromatic's GDRs. Chromatic's board had resolved to allow EURAM Bank to use GDR proceeds as security for this loan, a scheme executed without informing shareholders. SEBI alleged this constituted a fraudulent scheme under the SEBI Act and PFUTP Regulations.

Court :
SEBI

Brief :
Under Sections 11(1), 11(4) and 11B (1) of the Securities and Exchange Board of India Act, 1992

Citation :
WTM/SM/IVD/ID4/9169/2020-21

Daily Limit Reached

You have reached your daily limit of 2 Free Judgements

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?
  • No Ads
  • WhatsApp Community
  • Daily E-Newsletter
  • Unlimited Judgements Access
  • Profile Visitors
  • Link Social Profiles
  • Featured Job Posts
  • Pro Badge
  • Expert GST Guidance
  • Unlimited Forum Replies
  • Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

View all CCI PRO benefits

Already a PRO member? Login here for an ad-free experience. 07941056694

 
downloaded 216 times


Guest

Judgement posted by

Guest

View Judgements
Comments


Recent Judgments :

  1. CESTAT: Service Tax Demand Based Solely on ITR Data Unsustainable; 40% Valuation Applicable to Original Works Contract
  2. CESTAT: Renting Vehicles on Per-Trip Basis Not Taxable as Supply of Tangible Goods
  3. CESTAT Denies Refund of Ocean Freight Service Tax Claim Filed Beyond Limitation
  4. CESTAT Quashes Service Tax Demand Based Merely on Form 26AS; Renting of Residential Hostel Held Non-Taxable
  5. CESTAT: Rajasthan Sales Tax Subsidy under RIPS 2010 Not includible in Excise Assessable Value
  6. CESTAT: Late Payment Charges in the Nature of Interest Not Taxable as Declared Service
  7. CESTAT: Educational Services Exempt Under Section 66D; Extended Period Cannot Be Invoked Without Wilful Suppression
  8. CESTAT: No Service Tax on Royalty under RCM if Mining Lease Was Executed Before 1 April 2016
  9. No pre-deposit required for filing appeal before the GSTAT against penalty-only orders where proceedings commenced prior to October 01 2025
  10. Refund cannot be withheld under Section 54(11) of the CGST Act merely because the Revenue contemplates filing an appeal

View More Judgments »


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Umaparimal ParimalUmaparimal ParimalPro Member Angadi & CoAngadi & CoPro Member ramesh kumar ramesh kumar Pro Member madhu sudanmadhu sudanPro Member sandip deysandip dey
Subscribe to Pro
Join an elite circle of professionals

Browse by Category




Latest Job Openings

View all
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details